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    • [-]
     7 years ago 

    it's worth gambling on as we put down no $

    [-]
     7 years ago (edited)

    Maybe you. I invested $50000 of real money from my paychecks until now.

    $4.55
    • Past Payouts $4.55
    • - Author $3.42
    • - Curators $1.14
    2 votes
    Reply
    [-]
     7 years ago 

    wow! that's cool i hope it takes off for you

    $1.48
    • Past Payouts $1.48
    • - Author $1.12
    • - Curators $0.36
    3 votes
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    [-]
     8 years ago 

    People should be careful about this calculation. It's an interesting psychological trick, because your SP number increases doesn't mean that you have a greater value. The 9:1 rule doesn't mean that you earn 90% interest rate on SP, you should see it more like ~10% inflation on it. Regularly 1 Steem is generated out of thin air to reward contributors. The same time this effect is counter-measured by distributing 9 Steem to existing SP holders, weighted by their SP amounts. I.e. if you own 0,0001% of all SP, you get 0,0001% of the newly generated 9 Steem.

    white paper page 38:

    For the first 2 years of Bitcoin’s life the network sustained an annual inflation rate20 of over 100%. For the first 5 years it was over 30%, and for the first 8 years it was over 10%. According to the tool for estimating future inflation included with the Steem source code, Steem by contrast will achieve an instantaneous annual rate of approximately 12% after just 1 year (not including the effects of SMD operations).

    This isn't necessary bad if more people buy-in and this could happen because Steem seems to be the first easy-to-use blockchain-based project with a viral component. If you compare it to Reddit and Facebook there is lot of potential to grow.

    $0.00
      2 votes
      Reply
      [-]
       8 years ago 

      That is why I made the projections with an assumption of the rate staying the same over time.

      I think while STEEMit is in the expansion phase that the rate can be sustained. Of course it could change with the next hard fork in the blockchain. You also have to remember that the price of STEEM fluctuates. If STEEM inflates faster than the market for STEEM, then the price will go down. Time will tell.

      I will continue to monitor the rate and report back any changes or updates.

      Thanks for reading my post!

      Steem on,
      Mike

      $0.00
        Reply

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